BSJD: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
BSJD
Largest movements
- Intangible fixed assets +€98,115
up €98,115 (+101.5%), from €96,667 to €194,782
- Cash -€36,284
down €36,284 (-64.1%), from €56,580 to €20,296
mainly Investment in fixed assets (net) (-€147,585) and Trade debts (-€27,948)
- Financial fixed assets +€35,000
new in 2025: €35,000
- Receivables within one year -€14,161
down €14,161 (-8.6%), from €165,083 to €150,922
of which Trade receivables: -€23,389
- Tangible fixed assets -€7,518
down €7,518 (-36.6%), from €20,552 to €13,033
of which Plant, machinery and equipment: -€8,781
- Current portion of long-term debt +€75,597
up €75,597 (+87.0%), from €86,903 to €162,500
- Trade debts -€27,948
down €27,948 (-53.2%), from €52,549 to €24,601
- Reserves +€22,421
up €22,421 (+27.1%), from €82,617 to €105,038
- Tax, wage and social debts +€13,627
up €13,627 (+19.6%), from €69,686 to €83,313
of which Taxes: +€7,598
- Accrued charges and deferred income -€10,000
down €10,000 (-21.4%), from €46,667 to €36,667
- Staff costs +€46,512
up €46,512 (+75.8%), from €61,361 to €107,872
- Gross operating margin +€13,977
up €13,977 (+9.1%), from €153,903 to €167,880
- Depreciation +€8,915
up €8,915 (+68.2%), from €13,073 to €21,988
- Taxes -€4,125
down €4,125 (-21.4%), from €19,274 to €15,150
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €343,081 | €416,778 | +€73,697 | +21.5% |
| Fixed assets | 21/28 | €117,218 | €242,815 | +€125,597 | +107.1% |
| Intangible fixed assets | 21 | €96,667 | €194,782 | +€98,115 | +101.5% |
| Tangible fixed assets | 22/27 | €20,552 | €13,033 | -€7,518 | -36.6% |
| Plant, machinery and equipment | 23 | €19,157 | €10,377 | -€8,781 | -45.8% |
| Furniture and vehicles | 24 | €1,394 | €2,656 | +€1,262 | +90.5% |
| Financial fixed assets | 28 | - | €35,000 | +€35,000 | |
| Current assets | 29/58 | €225,863 | €173,963 | -€51,900 | -23.0% |
| Stocks and contracts in progress | 3 | €2,546 | €2,746 | +€200 | +7.9% |
| Stocks | 30/36 | €2,546 | €2,746 | +€200 | +7.9% |
| Amounts receivable within one year | 40/41 | €165,083 | €150,922 | -€14,161 | -8.6% |
| Trade receivables | 40 | €23,389 | €0 | -€23,389 | -100.0% |
| Other amounts receivable | 41 | €141,694 | €150,922 | +€9,227 | +6.5% |
| Cash at bank and in hand | 54/58 | €56,580 | €20,296 | -€36,284 | -64.1% |
| Deferred charges and accrued income | 490/1 | €1,654 | €0 | -€1,654 | -100.0% |
| Total equity and liabilities | 10/49 | €343,081 | €416,778 | +€73,697 | +21.5% |
| Equity | 10/15 | €85,117 | €107,538 | +€22,421 | +26.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €82,617 | €105,038 | +€22,421 | +27.1% |
| Distributable reserves | 133 | €82,617 | €105,038 | +€22,421 | +27.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €257,964 | €309,240 | +€51,276 | +19.9% |
| Amounts payable within one year | 42/48 | €211,298 | €272,573 | +€61,276 | +29.0% |
| Current portion of amounts payable after more than one year | 42 | €86,903 | €162,500 | +€75,597 | +87.0% |
| Trade debts | 44 | €52,549 | €24,601 | -€27,948 | -53.2% |
| Suppliers | 440/4 | €52,549 | €24,601 | -€27,948 | -53.2% |
| Taxes, remuneration and social security | 45 | €69,686 | €83,313 | +€13,627 | +19.6% |
| Taxes | 450/3 | €63,189 | €70,787 | +€7,598 | +12.0% |
| Remuneration and social security | 454/9 | €6,498 | €12,526 | +€6,029 | +92.8% |
| Other amounts payable | 47/48 | €2,159 | €2,159 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €46,667 | €36,667 | -€10,000 | -21.4% |
| Non-recurring operating income | 76A | - | €23,825 | +€23,825 | |
| Remuneration, social security and pensions | 62 | €61,361 | €107,872 | +€46,512 | +75.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,073 | €21,988 | +€8,915 | +68.2% |
| Other operating charges | 640/8 | €5,523 | €4,034 | -€1,488 | -27.0% |
| Gross operating margin | 9900 | €153,903 | €167,880 | +€13,977 | +9.1% |
| Operating profit (loss) | 9901 | €73,946 | €33,985 | -€39,962 | -54.0% |
| Financial income | 75/76B | €6,899 | €6,800 | -€99 | -1.4% |
| Recurring financial income | 75 | €6,899 | €6,800 | -€99 | -1.4% |
| Financial charges | 65/66B | €4,181 | €3,214 | -€967 | -23.1% |
| Recurring financial charges | 65 | €4,181 | €3,214 | -€967 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €76,664 | €37,571 | -€39,094 | -51.0% |
| Income taxes | 67/77 | €19,274 | €15,150 | -€4,125 | -21.4% |
| Profit (loss) for the period | 9904 | €57,390 | €22,421 | -€34,969 | -60.9% |
| Profit (loss) for the period to be appropriated | 9905 | €57,390 | €22,421 | -€34,969 | -60.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.